RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense to request Tenant to move from the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocation.
Appears in 3 contracts
Samples: Office Lease, Office Lease (Under Armour, Inc.), Office Lease (Under Armour, Inc.)
RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense right to request Tenant to move from relocate the Premises to another suite part of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or at any time after the Project (the “Relocation Premises”) in accordance with the plans execution and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out delivery of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective Lease upon at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within least thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they prior Notice to Tenant. The new premises (“New Premises”) shall be substantially similar to the configuration of the original premises (“Original Premises”) as described in this Lease. The New Premises shall be leased to Tenant on the same terms and conditions as provided in this Lease, except if the New Premises contains less square footage, then there shall be a proportionate adjustment in Rent. If Tenant requests an increase in the size of the Premises and the Landlord can accommodate this, then there shall be a proportionate increase in rent. Landlord shall pay reasonable expenses incurred moving Tenant’s Property to the New Premises. Landlord, at its expense, shall improve the New Premises with improvements substantially similar to those in the Original Premises. At the time of such relocation, Tenant’s reasonable moving expense shall include, without limitation, the cost of replacing Tenant’s signage at the New Premises, as well as the expense cost of moving Tenant’s property, including, but not limited to, Tenant’s furniture, telecommunications equipment, supplies, telephonesthe cost of replacing unused letterhead stationary, and telephone equipment to business cards of Tenant showing the Relocation address of the Original Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date Upon completion of such relocation, the New Premises shall be the Premises for all purposes under the Lease and the parties shall immediately execute an amendment to this Lease will be amended by deleting setting forth the description relocation of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light the reduction of such relocationBase Rent, if any.
Appears in 3 contracts
Samples: Sublease Agreement (Aegerion Pharmaceuticals, Inc.), Sublease Agreement (Aegerion Pharmaceuticals, Inc.), Sublease Agreement (Aegerion Pharmaceuticals, Inc.)
RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense right to request Tenant to move from relocate the Premises to another suite part of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans following:
(a) The new premises shall be substantially the same in size, dimensions, construction, decor and specifications originally prepared for nature as the PremisesPremises described in this Lease, using materials of like quality and the relocation occurs after the Commencement Date, shall be placed in that condition by Landlord at its cost, including Tenant Improvements made by Tenant as those used in the build-out of the original Premises provided, however, that in the event date of receipt of any such notice, relocation.
(b) Landlord shall give Tenant by at least sixty (60) days written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for intention to relocate the Premises.
(c) As nearly as practicable, the physical relocation may elect of the Premises shall take place on a weekend and shall be complete before the following Monday. If the physical relocation has not to move been completed in that time, Base Rent shall xxxxx in full from the time the physical relocation commences to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may betime it is completed. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days Upon completion of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they new premises shall become the “Premises” under this Lease,
(d) All reasonable costs incurred by Tenant as a result of the relocation shall be paid by Landlord. Landlord will cause to be constructed, in the space where Tenant is to be relocated and prior to Tenant’s actual relocation, improvements substantially similar equivalent to the tenant improvements made by Tenant as of the date of Tenant’s relocation
(e) If Tenant, in its sole discretion, has agreed to reduction in the size of the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move base Rent shall be completed over a weekend or during off hours as reduced proportionately.
(f) The parties hereto shall immediately execute an amendment to minimize any interruption of Tenant’s’ business. Occupancy this Lease setting forth the relocation of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light the reduction of such relocationBase Rent, if any.
Appears in 3 contracts
Samples: Office Lease (Arcadia Biosciences, Inc.), Office Lease (Arcadia Biosciences, Inc.), Office Lease (Arcadia Biosciences, Inc.)
RELOCATION OF PREMISES. With respect to each Renewal TermLandlord may, within fifteen upon ninety (1590) days of Landlord’s receipt of prior written notice by to Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense to request Tenant to move from the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Notice”), relocate the Premises to any other premises within the Building (hereinafter referred to as the “Relocated Premises”), provided that each of the following conditions are satisfied:
15.18.1 The Relocated Premises (a) in accordance with are substantially the plans and specifications originally prepared for same size as the Premises, using materials of like quality as those used in ; (b) have substantially the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises same configuration and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, leasehold improvements as the case may be. If Premises; and (c) have substantially the same view as the Premises;
15.18.2 Landlord shall pay all out-of-pocket expenses incurred by Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of connection with any such relocation, Landlord shallincluding all costs of changes in signs, within thirty (30) days stationery costs, moving costs, reinstallation of such relocationtelephone and computer equipment, pay all expenses associated with preparing wiring and decorating the Relocation Premises so that they shall be substantially similar to the Premisescabling, as well as and the expense of moving furnishing the Relocated Premises with substantially the same type and quality of leasehold improvements as the Premises; and
15.18.3 Such relocation shall be accomplished in a manner that will minimize the disruption to Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of Tenant Name: Flex Leasing Power & Service LLC Building Name: Plaza Tower One In the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date event of such relocation, this Lease will shall continue in full force and effect without any change in the terms or conditions thereof, except that the Relocated Premises shall be amended by deleting substituted for the description original Premises and if the Relocated Premises are smaller than the Premises, the Base Rent and Tenant’s Share shall be proportionately reduced as of the date on which Tenant surrenders the Premises; provided, that there shall be no increase to the Base Rent and Tenant’s Share if the Relocated Premises is larger than the original premises Premises. If Tenant shall not desire to so relocate, then within twenty (20) days after Landlord sends the Relocation Notice to Tenant, Tenant shall notify Landlord that Tenant does not desire to relocate (the “Tenant’s Response”), and substituting a description either Landlord or Tenant may, but shall have no obligation to, terminate this Lease effective ninety (90) days after the date of such the Relocation Notice by delivering written notice of termination to the other party within ten (10) days after Landlord’s receipt of the Tenant’s Response. If neither party timely delivers notice of termination after Landlord’s receipt of the Tenant’s Response, then the parties shall be deemed to have waived their respective rights to terminate this Lease pursuant to this Section 15.18, and Tenant shall be obligated to relocate to the Relocated Premises in accordance with the Relocation Notice and making the other terms and provisions of this Section 15.18. There shall be no abatement of any Rent or other changes sums payable hereunder on account of Tenant’s relocation or any inconvenience or business loss caused to Tenant thereby so long as may be reasonably necessary or desirable in light Landlord complies with all of such relocationthe terms and provisions of this Section 15.18.
Appears in 2 contracts
Samples: Office Lease (FlexEnergy Green Solutions, Inc.), Office Lease (FlexEnergy Green Solutions, Inc.)
RELOCATION OF PREMISES. With respect Landlord reserves the unrestricted and unconditional right, upon one hundred eighty (180) days’ notice from Landlord to each Renewal TermTenant (a “Relocation Notice”), to relocate the portion of the Leased Premises located on the sixth (6th) floor as of the date hereof (as the same may be relocated from time to time, the “Relocation Premises”) and to provide and furnish Tenant with replacement premises for such Relocation Premises elsewhere within fifteen the Building with such replacement premises to be approximately the same size, same configuration and buildout as the Relocation Premises and located vertically or horizontally contiguous to the remainder of the Leased Premises (15) days of Landlord’s receipt of written notice by such replacement premises being referred to as the “Substitute Premises”), and to thereafter relocate Tenant exercising its option from the Relocation Premises to renewthe Substitute Premises. If Landlord relocates Tenant to the Substitute Premises, then Landlord shall have the one time rightshall, at its sole cost and expense to request Tenant to move from expense, improve the Substitute Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move a manner substantially comparable to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any immediately preceding such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating on the date specified on the Relocation Premises so that they Notice Landlord shall be substantially similar move the equipment, personal property and personnel of Tenant to the PremisesSubstitute Premises and shall reinstall and reconstruct such improvements, as well as equipment and personal property in the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, Substitute Premises in a manner and telephone equipment fashion reasonably comparable to the Relocation Premises. Any Upon the exercise by Landlord of the foregoing relocation right, this Lease and each of the terms, covenants and conditions hereof shall remain in full force and effect and be applicable to the Substitute Premises, including, no increase in (a) the Base Rent payable by Tenant or (b) Tenant’s Proportionate Share. In such move event, effective as of the date specified in the Relocation Notice, Tenant shall vacate and surrender the Relocation Premises in accordance with the terms and conditions of this Lease, and the Substitute Premises shall thereafter be deemed to be substituted for the Relocation Premises and Tenant shall have no further rights or interests in or to the Relocation Premises. After delivery of a Relocation Notice, the provisions of this Section 7.23 shall be completed over a weekend or during off hours as to minimize any interruption self-operative; however, at either party’s request, Landlord and Tenant shall enter into an amendment of Tenant’s’ business. Occupancy this Lease confirming the relocation of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationPremises.
Appears in 2 contracts
Samples: Lease Agreement (Entrada Therapeutics, Inc.), Lease (Entrada Therapeutics, Inc.)
RELOCATION OF PREMISES. With respect During the term of the Lease Landlord may relocate the Tenant's Premises within the Project. Said relocation shall be at the total cost and expense of Landlord. In the event Landlord so elects to each Renewal Termrelocate Tenant, within Landlord shall notify Tenant, specifying the relocation space to Tenant. Tenant shall have fifteen (15) days of Landlord’s from the receipt of written notice by Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense to request Tenant to move from the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written said notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not alert to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for accept said relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any that the relocation proposal is accepted by Tenant, Landlord and Tenant shall revise the Tenant's Lease to reflect the new space. Upon such relocation, such new space shall be deemed the Premises hereunder for all purposes and the Lease shall be deemed amended to that effect without further formality. Rental rates for the new space shall be the same as those agreed to in the original Lease Agreement, subject to adjustment for additional space, or less space, as agreed to by the parties. All other terms and conditions of the original Lease shall remain in full force and effect. In the event that Tenant elects not to accept the relocation of its Premises, Tenant shall so notify Landlord shall, within in writing. Landlord shall then have the option for thirty (30) days of to terminate Tenant's Lease, or to allow Tenant to remain in its present Premises. If Tenant accepts such relocation, pay the following conditions will apply:
(i) Landlord will bear all costs and expenses associated with preparing and decorating resulting from the Relocation Premises so that they shall be substantially similar to the Premisesmove, as well as the expense of moving Tenant’s property, including, including but not limited toto - replace or relocate communication, Tenant’s computer and phone connections - reprint letterhead, cards and forms - move building signage - move furniture, equipment, suppliespartitions, telephonesetc.
(ii) Landlord will provide comparable space, to include: - similar linear feet of window line - similar functional layout and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption flow - similar quantity and quality of Tenant’s’ business. Occupancy improvements
(iii) A rental credit of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease $55,000 will be amended provided by deleting Landlord for the description of next rent due under the original premises Lease and substituting a description of such Relocation Premises (iv) the move will occur during periods between Friday 5:00 PM and making any other changes as may be reasonably necessary or desirable in light of such relocationMonday 6:00 AM.
Appears in 1 contract
Samples: Lease Addendum (Bsquare Corp /Wa)
RELOCATION OF PREMISES. With respect During the term of the Lease Landlord may relocate the Tenant's Premises within the Project. Said relocation shall be at the total cost and expense of Landlord. In the event Landlord so elects to each Renewal Termrelocate Tenant, within Landlord shall notify Tenant, specifying the relocation space to Tenant. Tenant shall have fifteen (15) days of Landlord’s from the receipt of written notice by Tenant exercising its option to renew, Landlord shall have the one time right, at its sole cost and expense to request Tenant to move from the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written said notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for accept said relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any that the relocation proposal is accepted by Tenant, Landlord and Tenant shall revise the Tenant's Lease to reflect the new space. Upon such relocation, such new space shall be deemed the Premises hereunder for all purposes and the Lease shall be deemed amended to that effect without further formality. Rental rates for the new space shall be the same as those agreed to in the original Lease Agreement, subject to adjustment for additional space, or less space, as agreed to by the parties. All other terms and conditions of the original Lease shall remain in full force and effect. In the event that Tenant elects not to accept the relocation of its Premises, Tenant shall so notify Landlord shall, within in writing. Landlord shall then have the option for thirty (30) days of to terminate Tenant's Lease, or to allow Tenant to remain in its present Premises. If Tenant accepts such relocation, pay the following conditions will apply:
(i) Landlord will bear all costs and expenses associated with preparing and decorating resulting from the Relocation Premises so that they shall be substantially similar to the Premisesmove, as well as the expense of moving Tenant’s property, including, including but not limited toto - replace or relocate communication, Tenant’s computer and phone connections - reprint letterhead, cards and forms - move building signage - move furniture, equipment, suppliespartitions, telephonesetc.
(ii) Landlord will provide comparable space, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption include: - similar linear feet of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocation.window line
Appears in 1 contract
RELOCATION OF PREMISES. With respect For the purpose of maintaining an economical and proper distribution of tenants acceptable to each Renewal TermLandlord throughout the Building, within fifteen commencing on the first day of the twenty-fifth (1525th) days month of Landlord’s receipt the initial Term of written notice by Tenant exercising its option to renewthis Lease, Landlord shall have the one right from time right, at its sole cost and expense to request Tenant time during the Term to move from relocate the Premises within the Building (but during the initial Term of this Lease, Landlord shall not exercise such right to another suite relocate Tenant more than one (1) time), provided that (a) the rentable and usable area of equal or greater sizethe new Premises is of equivalent size to the existing Premises, amenities subject to a variation of up to fifteen percent (15%), (b) Landlord, not Tenant, shall pay the cost of providing tenant improvements in the new Premises (Tenant shall have no liability for any construction management fee related to any such tenant improvements), which shall be substantially comparable to those in the existing Premises, (c) if Tenant relocates into larger Premises under the provisions of this Section, then during the remainder of the initial Term the total Base Rent and decor, including build-out of Additional Rent shall not increase after such relocation space, for comparable dates as Tenant would otherwise pay in the Building or existing Premises prior to such relocation, (d) Landlord shall pay reasonable costs (to the Project extent such costs are submitted in writing to Landlord and approved in writing by Landlord prior to such move) of (i) moving Tenant’s Trade Fixtures and personal property to the “Relocation new Premises”, (ii) relocating wiring and cabling to the new Premises and (iii) new stationery and business cards to replace the then existing stock on hand in accordance with the plans Premises and specifications originally prepared for which may be required by any change in address, and (e) the new Premises shall be located on the ground floor of the Building. Landlord shall deliver to Tenant written notice of Landlord’s election to relocate the Premises, using materials specifying the new location and the amount of like quality as those used in the build-out of the original Premises providedrent payable therefor, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen at least one hundred twenty (15120) days after receipt of Landlord’s request for relocation may elect not to move prior to the Relocation Premises and in lieu thereof date the relocation is to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationeffective.
Appears in 1 contract
Samples: Lease Agreement (Inpixon)
RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days At any time after Xxxxxx's execution of Landlord’s receipt of written notice by Tenant exercising its option to renewthis Lease, Landlord shall have the one time right, in Landlord's sole discretion, upon providing Tenant sixty (60) days' written notice (“Relocation Notice”), to relocate the Premises to a new location in the Building (the “New Premises”). The New Premises shall be described in the Relocation Notice. Landlord will endeavor to provide Tenant with New Premises substantially similar in size and location to the existing Premises. Landlord shall improve the New Premises, at its sole cost and expense expense, with tenant improvements of comparable quality and utility to request Tenant to move from the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, tenant improvements in the Building or the Project (the “Relocation original Premises”) in accordance with the plans and specifications originally prepared . Landlord shall arrange for the Premises, using materials of like quality as those used in the build-out of the original Premises provided, however, that in the event of receipt of any such notice, Tenant by written notice to Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, to Tenant not more than fifteen (15) days after such termination notice, rescind its relocation request, in which case Tenant’s termination notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s propertypersonal property and relocating Tenant’s operations from the existing Premises to the New Premises and shall pay the reasonable costs thereof, including, but not limited toto the relocation of any utilities and wiring, the cost of new business cards, stationery and marketing material. If Landlord relocates Tenant to the New Premises, then this Lease and each and all of the agreements, covenants, conditions and provisions of this Lease shall remain in full force and effect and be applicable to the New Premises, except that (i) a revised floor plan shall become part of this Lease and shall reflect the location of the New Premises, (ii) Tenant’s furniture, equipment, supplies, telephones's Percentage Share shall be adjusted to reflect any increase or decrease in the rentable square feet of the New Premises, and telephone equipment (iii) the Monthly Rent shall be equitably and proportionately adjusted to reflect any increase or decrease in rentable square feet of the New Premises. If Xxxxxx refuses to permit Xxxxxxxx to move Tenant to the Relocation New Premises. Any such move , then, in addition to Landlord's other remedies under this Lease for a default by Tenant, Landlord shall be completed over a weekend or during off hours as have the right to minimize any interruption of Tenant’s’ business. Occupancy terminate this Lease by written notice to Tenant within ten (10) days following the end of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, this Lease will be amended by deleting the description of the original premises and substituting a description of such Relocation Premises and making any other changes as may be reasonably necessary or desirable in light of such relocationsixty (60) day notice period.
Appears in 1 contract
Samples: Lease Agreement
RELOCATION OF PREMISES. With respect to each Renewal Term, within fifteen (15) days of Landlord’s receipt of written notice by Tenant exercising its option to renew, Landlord shall have the a one time right, at its sole cost and expense right to request Tenant to move from relocate the Premises to another suite of equal or greater size, amenities and decor, including build-out of such relocation space, in the Building or the Project (the “Relocation Premises”) in accordance with the plans and specifications originally prepared for the Premises, using materials of like quality as those used in the build-out building located within one mile of the original Leased Premises providedas detailed in Exhibit A attached hereto and made a part hereof, however, that in on the event of receipt of any such notice, Tenant by written notice to following terms and conditions:
(a) Landlord delivered not more than fifteen (15) days after receipt of Landlord’s request for relocation may elect not to move to the Relocation Premises and in lieu thereof to terminate this Lease, in which case the termination shall be effective at the end of the Original Term or the first Renewal Term, as the case may be. If Tenant fails to exercise such termination right within fifteen (15) days after receipt of Landlord’s request for relocation, Tenant shall be deemed to have agreed to such relocation. If Tenant exercises such termination right in a timely manner, Landlord may, by notice delivered, provide to Tenant not more less than fifteen six (156) days after such termination notice, rescind its relocation request, in which case Tenant’s termination months advance written notice shall become void and this Lease shall continue as if no relocation request were ever made. In the event of any such relocation, Landlord shall, within thirty (30) days of such relocation, pay all expenses associated with preparing and decorating the Relocation Premises so that they shall be substantially similar to the Premises, as well as the expense of moving Tenant’s property, including, but not limited to, Tenant’s furniture, equipment, supplies, telephones, and telephone equipment to the Relocation Premises. Any such move shall be completed over a weekend or during off hours as to minimize any interruption of Tenant’s’ business. Occupancy of the Relocation Premises shall be under and pursuant to the terms of this Lease. Effective on the date of such relocation, and no such relocation shall occur within twelve (12) months following the Closing, as defined in the Merger Agreement. Tenant shall provide Landlord with written notice of the Closing within ten (10) business days after the Closing.
(b) The new premises shall be of a single, contiguous space of approximately equal size and shall contain reasonably comparable quality of finishes and function as the Leased Premises as of the time immediately prior to such relocation (including without limitation, conference room capacity) and, if necessary, shall be placed in that condition by Landlord at the cost of Landlord. Tenant shall have the use of 150 non-exclusive parking spaces contiguous to the new premises. The parties hereby agree that any existing or future building in Xxxx Center Newport is reasonably comparable to the Building.
(c) The physical relocation of the furniture, fixtures, equipment, signage and personal property of Tenant from the Leased Premises to the new premises shall be accomplished by Landlord at the cost of Landlord.
(d) The physical relocation of Tenant to the new premises shall take place outside of normal business hours or other mutually agreed upon time.
(e) All reasonable out-of-pocket costs incurred by Tenant in connection with such relocation, including without limitation costs incurred in changing addresses on stationery, business cards, directories, websites, advertising, postage for a distribution of such information and other related and similar items, but excluding any lost revenues or other intangible costs, shall be paid by Landlord. There shall be no abatement of rent payable under the Lease on account of Tenant’s relocation provided that if Tenant is unable to use either the Leased Premises or new premises for the conduct of its business as reasonably determined by the parties, then all rent shall be abated on a per diem basis.
(f) Base Rent for the new premises shall be equal to the Expense Rent immediately prior to such relocation. No change in Base Rent shall be made regardless of the actual measurement of the new premises or the building of which they form a part, except that On each anniversary of the date upon which Tenant commences to do business in the new premises on or following the Closing, Landlord may increase the Base Rent by three percent (3%). Tenant shall pay Pass-Through Costs for the new premises provided they do not exceed the amount Pass-Through Costs would have been for the Leased Premises during the same period.
(g) Upon Landlord’s exercise of its relocation right, the Lease shall automatically be amended to delete the last sentence of Section 7.1 and to delete Section 15.1(c) in order to permit Tenant to assign this Lease will or extend the term hereof without concurrently assigning or extending the El Capitan Lease, and the El Capitan Lease shall be automatically amended to delete the last sentence of Section 7.1 therein in order to permit Tenant to assign the El Capitan Lease without concurrently assigning this Lease.
(h) The parties shall promptly execute an amendment to the Lease identifying the new premises or, if the new premises are leased by deleting Landlord as tenant and being provided to Tenant under a sublease, then the description parties shall promptly execute a sublease for the new premises which incorporates the provisions of the original premises and substituting a description of such Relocation Premises and making any other changes Lease, as may be reasonably necessary or desirable in light of such relocationmodified by this Amendment.
Appears in 1 contract
Samples: Lease (Jazz Technologies, Inc.)